1 month ago
Eddie Yue Wai-man, main enforcement of the Hong Kong Monetary Authority (HKMA), said lone a precise fewer stablecoin licenses would beryllium issued initially.
Feb 2, 2026, 12:36 p.m.
Hong Kong’s fiscal watchdog volition assistance a archetypal batch of “very few” stablecoin issuer licenses successful March, according to Reuters.
Eddie Yue, the main enforcement of the Hong Kong Monetary Authority (HKMA), said helium expects to contented the archetypal bid of stablecoin issuer licences successful March, portion addressing a Hong Kong Legislative Council gathering connected Monday.
However, helium said lone a "very tiny number" would beryllium approved initially.
Stablecoins, a subset of cryptocurrencies with prices anchored to fiat wealth similar the U.S. dollar, seeing expanding adoption worldwide, arsenic the world's large jurisdictions enactment regulatory frameworks successful place. Last year, stablecoins moved $35 trillion connected blockchain rails.
Currently a $300 cardinal plus class, Citi projected stablecoins to go a $1.9 trillion to $4 trillion market. Standard Chartered CEO Bill Winters said that Hong Kong's propulsion into tokenized wealth and stablecoins could laic the instauration for a caller epoch of integer commercialized settlement.
Yue noted that the reappraisal process for applications is nearing completion.
The caput of the HKMA highlighted that the criteria for stablecoin issuer licence support assessments focused connected issues specified arsenic hazard management, anti-money laundering measures, and the backing assets of the stablecoins.
He besides said licensed issuers indispensable comply with section regulations for cross-border activities, adding that communal designation agreements with different jurisdictions could beryllium explored successful the future.
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